Are you ready for what follows the downturn
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Are you ready for what follows the downturn?
It’s all about your perspective when you answer the question ‘are you ready for what follows the downturn?’ Because where and how you focus your energy makes a critical difference to success
As the recession hit and business conditions got tougher, a common problem for many businesses was they had to work a lot harder just to stand still. Understandably their mindset changed to one with a focus on the short-term and cost-cutting, just to ensure that the business survived. To use a sailing analogy they battened down the hatches and looked to steer the ship through the storm with their goal being to arrive in one piece.
But the short-term nature of a cost cutting on its own can be very damaging, as it creates a situation where the business is out of balance. Our experience has shown us that a ‘glass is half empty’ perception can be very limiting and have a damaging and demoralizing affect on the workforce. On the other hand a focus on growth can be energizing, it can create a positive force that motivates everyone to look out for opportunities and new ways of doing things. It can help to restore the balance so that you can have the best of both worlds, in other words a more efficient but also a more effective business.
Let’s consider the last recession in 2001 many industries were hit hard, retail and technology among them. At a time when many of their competitors hunkered down, stopped spending and took drastic cost cutting measures, Tesco (the UK retailer) and Intel, (the global technology company), took a different approach – they seized opportunities. Tesco changed its consumer message while Intel invested in new production facilities, and both emerged as reenergized and stronger brands.
So where is your own focus right now and how does your overall culture impact on how you view the latest challenges facing your business? Despite the adverse conditions do you still need to find ways to grow your business and secure its long-term future? Are you going to get creative and seek new ways to increase the value of every pound, dollar or yen that you spend?
One thing is certain you will not succeed in achieving your goals and getting the balance right without creating greater involvement, getting everyone in the business to think and act along the same lines; working towards achieving your ambitions in accordance with your brand values, deploying all the talent they have. And that is no small job in itself...
In future editions of this newsletter and blog we will be looking at some of the factors that will help you to achieve this so that your business is well positioned to deal with what comes next.
In the meantime, if you would like to talk to us at Be More Effective about setting and achieving goals, please get in touch.
For more information please send a message via the Contact Us Page. Or you can register for an upcoming webinar.
